If you really want to help working families move up that ladder, you have to deal with the payroll Tax Code.
JOHN LINDER: “If you really want to help working families move up that ladder, you have to deal with the payroll Tax Code.”
Editor's note · Context
Emphasizing the need to address payroll taxes to assist working families.
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The average income earner pays a 28 percent withholding tax and 7.65 percent, their share of the payroll tax. Their increase in take-home pay would be about 55 percent the next day.
Wealthy people pay taxes on personal consumption, and wealth has no meaning unless it is spent on personal consumption. If I had $100 million and lived in a $20,000 home and drove a used car, that $100 million would mean nothing to me. So…
That is right. So the consumer of that small business not only pays the $100 plus the payroll tax, it also pays the $724.
You told it to me once. It is the difference between someone who is a big believer and a fanatic.





